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JPMorgan Ultra-Short Municipal Income ETF
JMST

491 hedge funds and large institutions have $2.67B invested in JPMorgan Ultra-Short Municipal Income ETF in 2025 Q1 according to their latest regulatory filings, with 65 funds opening new positions, 239 increasing their positions, 143 reducing their positions, and 26 closing their positions.

New
Increased
Maintained
Reduced
Closed

150% more first-time investments, than exits

New positions opened: 65 | Existing positions closed: 26

67% more repeat investments, than reductions

Existing positions increased: 239 | Existing positions reduced: 143

17% more funds holding in top 10

Funds holding in top 10: 18 → 21 (+3)

14% more capital invested

Capital invested by funds: $2.35B → $2.67B (+$323M)

7% more funds holding

Funds holding: 459 → 491 (+32)

1.45% less ownership

Funds ownership: 76.74% → 75.29% (-1.4%)

Holders
491
Holders Change
+32
Holders Change %
+6.97%
% of All Funds
6.58%
Holding in Top 10
21
Holding in Top 10 Change
+3
Holding in Top 10 Change %
+16.67%
% of All Funds
0.28%
New
65
Increased
239
Reduced
143
Closed
26
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
+$38M
2
AWE
Avidian Wealth Enterprises
Texas
+$27M
3
Wells Fargo
Wells Fargo
California
+$20.6M
4
LPL Financial
LPL Financial
California
+$19.4M
5
Jane Street
Jane Street
New York
+$15.8M

Top Sellers

1
TW
Transform Wealth
Colorado
-$10.4M
2
FT
Fiduciary Trust
Massachusetts
-$10.3M
3
Fidelity Investments
Fidelity Investments
Massachusetts
-$7.21M
4
CG
CFO4Life Group
Texas
-$6.77M
5
IAA
Independent Advisor Alliance
North Carolina
-$6.44M
Name Holding Trade Value Shares
Change 		Change in
Stake
SA
101
Stewardship Advisors
Pennsylvania
$5.39M +$1.09M +21,375 +25%
LPT
102
Legacy Private Trust
Wisconsin
$5.36M +$961K +18,915 +22%
YIA
103
YHB Investment Advisors
Connecticut
$5.34M +$884K +17,404 +20%
BIAS
104
Beacon Investment Advisory Services
New Jersey
$5.33M -$29.6K -582 -0.6%
CAL
105
Capital Analysts LLC
Pennsylvania
$5.31M +$5.31M +104,432 New
REMPR
106
Roof Eidam Maycock Peralta (REMP)
California
$5.31M +$203K +4,000 +4%
IA
107
IMZ Advisory
Florida
$5.17M -$13.3K -261 -0.3%
BF
108
BOK Financial
Oklahoma
$5.17M -$346K -6,814 -6%
WAAG
109
Wealth Alliance Advisory Group
Kansas
$5.08M +$695K +13,672 +16%
CTC
110
Central Trust Company
Missouri
$4.64M +$97.3K +1,914 +2%
FWM
111
Forza Wealth Management
Florida
$4.61M +$3.02M +59,400 +190%
BWM
112
BCGM Wealth Management
Indiana
$4.53M -$499K -9,824 -10%
AFG
113
Albion Financial Group
Utah
$4.44M +$455K +8,947 +11%
BOPW
114
Brandywine Oak Private Wealth
Pennsylvania
$4.39M -$68.1K -1,340 -2%
WIC
115
Whitegate Investment Counselors
New Hampshire
$4.38M +$150K +2,950 +4%
CM
116
Capital Management
Virginia
$4.28M +$152K +2,984 +4%
EWS
117
Evergreen Wealth Solutions
Pennsylvania
$4.27M +$2.4M +47,210 +128%
JWM
118
Jupiter Wealth Management
Colorado
$4.06M – – –
MML Investors Services
119
MML Investors Services
Massachusetts
$3.89M +$1.02M +20,106 +36%
PA
120
Perennial Advisors
New York
$3.87M -$233K -4,580 -6%
SW
121
StrongBox Wealth
Missouri
$3.84M +$499K +9,825 +15%
Truist Financial
122
Truist Financial
North Carolina
$3.76M -$350K -6,880 -9%
CFG
123
Cooper Financial Group
California
$3.76M -$34.1K -672 -0.9%
SFM
124
Signet Financial Management
New Jersey
$3.71M -$128K -2,522 -3%
FCIM
125
Fairview Capital Investment Management
California
$3.66M -$33K -650 -0.9%
3 4
5
6 7

JMST Hedge Fund Activity: Q1 2025 in Review

491 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in JPMorgan Ultra-Short Municipal Income ETF (JMST) for Q1 2025, worth a combined $2.67B — up 14% from $2.35B a quarter earlier.

Buyers outnumbered sellers: 65 funds opened new JMST positions and 26 closed out — a net gain of 39 holders — while 239 added to existing stakes and 143 trimmed.

The largest buyer was Northwestern Mutual Wealth Management, adding an estimated $38M. The largest seller was Transform Wealth, cutting an estimated $10.4M.

  • 491 institutional investors held JPMorgan Ultra-Short Municipal Income ETF (JMST) as of Q1 2025, up from 459 in Q4 2024.
  • Funds reported $2.67B of JPMorgan Ultra-Short Municipal Income ETF stock for Q1 2025, up 14% quarter-over-quarter.
  • 65 funds opened new JPMorgan Ultra-Short Municipal Income ETF positions in Q1 2025 and 26 closed out, a net change of +39 holders.
  • The largest JPMorgan Ultra-Short Municipal Income ETF buyer in Q1 2025 was Northwestern Mutual Wealth Management, an estimated $38M added.
  • The largest JPMorgan Ultra-Short Municipal Income ETF seller in Q1 2025 was Transform Wealth, an estimated $10.4M sold.

Based on aggregated 13F filings for Q1 2025.